Ramelius Resources Limited shares bounce off 52-week lows

The Ramelius Resources Limited (ASX:RMS) share price has jumped 2 cents higher, or 4.65%, to 45 cents on high volume.

Although the RMS share price is now 20% higher than its 52-week low, its shares are still down 40% from its February 2017 high of 75 cents.

According to Google Finance, Ramelius Resources Limited is engaged in exploration, mine development, mine operations, the sale of gold and milling services. The company’s operational projects include Mt Magnet Mine, Kathleen Valley Mine and Vivien Mine.

Earlier this year Ramelius Resources missed its March quarterly production guidance due to heavy rain and equipment failures. The gold miner could only manage to produce 28,000 ounces of gold in the quarter, which was well below its guidance of 30,000 to 34,000 ounces. Ramelius also warned that its production costs are expected to be above its guidance of A$1,100 per ounce.

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